S&P 500, Dow Jones open higher after December inflation data

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(Reuters) – The S&P 500 and the Dow Jones opened higher on Thursday after further evidence of cooling inflation boosted bets that the Federal Reserve will slow the pace of its future interest rate hikes.

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Traders work on the trading floor at the New York Stock Exchange (NYSE) in New York City

The Dow Jones Industrial Average rose 74.85 points, or 0.22%, at the open to 34,047.86, and the S&P 500 opened higher by 7.96 points, or 0.20%, at 3,977.57.

The Nasdaq Composite dropped to 10,931.67 points at the opening bell.

(Reporting by Amruta Khandekar)